MEI Pharma’s $100 Million Litecoin Purchase Sparks Stock Surge Amid Growing Institutional Interest

Key Points

1. MEI Pharma raised $100 million via a PIPE deal to purchase Litecoin (LTC), becoming the first publicly traded company on a national exchange to hold LTC as a treasury reserve asset.

2. The announcement caused MEI Pharma's stock price to surge over 111% in five days, reaching levels not seen since September 2022.

3. Litecoin's price increased by 21.9% over the past week, aligning with MEI Pharma's strategic timing and adding credibility to its treasury diversification approach.

4. MEI Pharma is reportedly preparing for a second $100 million equity raise to further increase its Litecoin reserves, signaling ongoing commitment to crypto adoption.

5. The move reflects growing institutional interest in Litecoin, with backing from entities like GSR, the Litecoin Foundation, and other institutional investors.